The Deepak Builders & Engineers IPO has captured the spotlight in the investment community, achieving a remarkable 41 times oversubscription during its subscription period from October 21 to October 23, 2024. As investors eagerly await the share allotment, scheduled for today, October 24, the excitement is palpable. Successful bidders can expect shares to be credited to their demat accounts by October 25, with a highly anticipated stock market debut on the BSE and NSE set for October 28. This article covers everything you need to know about this IPO, including subscription details, how to check allotment status, and insights on grey market trends.
IPO Subscription Details
The initial public offering (IPO) of Deepak Builders & Engineers has raised an impressive ₹260 crore. The subscriber interest was robust across all investor categories, highlighting the company’s growing reputation. Specifically, the retail portion was oversubscribed 39.79 times, while Qualified Institutional Buyers (QIBs) demonstrated significant demand as they subscribed 13.91 times their allotted shares. Notably, Non-Institutional Investors (NIIs) exhibited the highest enthusiasm, with an astounding subscription rate of 82.47 times, reflecting strong market confidence.
How to Check Allotment Status
After the allotment announcement, investors can check their share allotment status easily. The official registrar for this IPO is KFin Technologies Limited, and investors can verify their status through the registrar’s website or the BSE and NSE platforms.
Steps to Check Allotment Status on the Registrar’s Website:
- Visit the registrar’s website.
- Select ‘Deepak Builders & Engineers IPO’ from the dropdown menu.
- Choose ‘Application No., Demat Account or PAN’ and enter the required details.
- Fill in the Captcha code and click on ‘Submit’.
Your allotment status will be displayed on the screen, providing clarity on your investment.
Steps to Check Allotment Status on BSE:
- Navigate to the BSE allotment link: BSE Allotment Status.
- Select ‘Equity’ in the issue type option.
- Choose ‘Deepak Builders & Engineers’ from the list.
- Enter your application number or PAN details.
- Verify you are not a robot by checking the box and click ‘Search’.
Steps to Check Allotment Status on NSE:
- Visit the NSE allotment link: NSE Allotment Status.
- Click on ‘Click here to sign up’ and enter your PAN.
- Fill out your username, password, and Captcha code.
- Check your IPO allocation status after redirection.
Grey Market Premium (GMP)
Currently, the grey market premium (GMP) for Deepak Builders & Engineers is pegged at ₹51. Considering the upper price band of ₹203, this indicates an expected listing price of approximately ₹254, reflecting a potential premium of 25.12% upon debut. This positive sentiment in the grey market underscores the robust demand for shares and could hint at a favorable reception in public trading.
Conclusion
The successful IPO subscription and overwhelming interest from investors position Deepak Builders & Engineers for a strong entry into the stock market. Investors are encouraged to take proactive steps to check their allotment status promptly, as shares are expected to be credited to demat accounts soon. The excitement surrounding this IPO reflects broader trends in investor confidence and the potential for growth in the construction sector.
Disclaimer: This article is intended for informational purposes only and does not serve as financial advice or endorsement of any specific investments or companies mentioned. Investors should seek the guidance of certified financial advisors before making any investment decisions.